Morgan Stanley and Main Street Power Back Enphase Microinverters for Commercial Solar Projects

PETALUMA, CA, Oct 11, 2010 (MARKETWIRE via COMTEX) — Enphase Energy Inc., the leader in solar microinverter systems, today announced that its microinverter technology will power 4.5MW of solar projects developed and operated by Main Street Power, a national solar developer, and financed by Morgan Stanley, a leading global financial institution.

The projects will be installed across approximately 36 sites, with system sizes ranging from 30kW to more than 300kW. The clean energy generated by the projects will be sold by Main Street to the San Diego Unified School District through a 20-year power purchase agreement (PPA). Morgan Stanley will provide the financing for the projects, enabling the school district to immediately begin saving on energy costs.

“We included Enphase in our proposal because it offered substantial cost savings in system design, operation and maintenance, while also increasing energy harvest and system reliability,” said Eric Hinckley, senior vice president of Main Street Power. “In addition, the Enphase Microinverters eliminated the need for a pad-mounted central inverter and high-voltage DC wiring, which improves safety and security for the schools.”